Which of the following will cause the demand curve for gasoline to shift leftward?
a. An increase in the price of gasoline
b. An increase in the price of cars
c. A decrease in the price of gasoline
d. A rightward shift of the supply curve of cars
e. A leftward shift of the supply curve of gasoline
b. An increase in the price of cars
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What was the World Bank designed to do?
(a) Serve as a long-term lender (b) Serve as a short-term lender (c) Make both short and long-term loans (d) Make grants-in-aid, but not to be a lending institution
Table 36-1Suppose the economy of Macroland is described by the following:C = 200 + 0.8 DI (DI = disposable income)I = 300 + 0.2Y?50r (Y = GDP)(r, the interest rate, is measured in percentage points. For example, a 9 percent interest rate is r = 9).For this economy, assume that the Federal Reserve uses its monetary policy to peg the interest rate atr = 5G = 750T = 0.25YX = 200M = 150 + 0.2YHint: DI = Y?T From Table 36-1, find the trade deficit or surplus.
A. 475 deficit B. 75 deficit C. 75 surplus D. 475 surplus
Suppose that the percentage change in supply is 20%, the price elasticity of demand is 3, and the price elasticity of supply is 2. What is the percentage change in the equilibrium price?
A. 4% B. 5% C. 15% D. 20%
In a competitive market, a pollution tax increases the equilibrium price of the polluting good, decreases the equilibrium quantity, and decreases the volume of waste.
Answer the following statement true (T) or false (F)